1. What are services?

Question 1

What are services?

Answer 1

‘A service is something that can be bought and sold but which you cannot drop on your feet.’ Intangible, interaction, experiences, relations, value.

Question 2

High-Touch VS High-Tech

Answer 2

> High-Touch depends mostly on the people in the service.

> High-Tech is based on the use of automated systems, information technology.

Question 3

Discretely VS Continuously

Answer 3

> The continuously rendered services involve a continuous flow of interactions (cleaning, banking, security systems) (Services are now offering packages so the customers come back).

> Discretely services (for example, a one-time job like cutting the hair - no attachment was formed).

Question 4

The Service Dominance Logic

Answer 4

Service-dominant (S-D) logic, in behavioural economics, is an alternative theoretical framework for explaining value creation, through the exchange, among configurations of actors.

The underlying idea is that skills and knowledge are the key competencies of the firms.

Skills and knowledge are the most important assets of the company and the core firm’s competitive advantage.

Question 5

Operand resources

Answer 5

Define as the application of specialised competencies (knowledge and skills) through deeds, processes, and performances for the benefit of another entity or the entity itself.

Question 6

Goods-centred

Answer 6

Goods-centred model of exchange (tangible, static, discrete transactions, and operand resources)

Question 7

Service-centered

Answer 7

Service-centred model of exchange (intangibles, competencies, dynamics, exchange processes and relationships, and operand resources)